Idaho semi-weekly world. [volume] (Idaho City, Idaho Territory) 1875-1908, 1887-12-09
SUPPLEMENT-
President Message
Cleveland Confines Himself to
the Tariff.
THE SURPLUS MUST BE CHECKED.
The Reduction should be Made in
Customs Rather than internal
Revenue. He FavOrs
Reduction on Wool.
THE SURPLUS MUST BE CHECKED
Annual Reports of the secretary Of War and
the Attorney General

WAsHINGToN, Dec. G.--The presi
dents message was delivered to con,
gresa to-day as follows:
To The Congress Of The United iStates;--
You are confronted at the threshold OIL
your legislative duties with a condition
OF the national finances which impera-
lively demands immediate and careful
consideration. The amount OF money
annually received through the operation
OF the present laws, from the industries
and necessities of the people, largely ex-
ceeds the sum necessary to meet the ex-
penses of the government. When we
consider that the theory of our institu-
tons guarantees to every citizen the full
enjoyment of the fruits OF his industry
and enterprise, with only such deduction
AS may be his share towards the careful
and economical maintenance OF the gov
eminent which protects nim, it il plain
that the exaction OF more than this il
indeiensible, and a culpable betrayal OF
fairness and justice. This wrong in
fllcled upon those who bear the burden
OF national axation, like other wrongs,
mu,tlples brood of evil consequences.
The public treasury, which should only
exist as conduit conveying the people =
tribute TO its legitimate objects OF ex-
pendlure, becomes boarding place ioi
money needlcssly Withdrawn from trade
and the peoples use, thus gripping oui
national energies, obstructing our eoun
try's development, preventing invest
ment in productive enterprises, threaten
ing financial disturbance and inviting
schemes OF public plumber This con
ditlon OF our II easnry is not altogether
new, and it has more than once of late
atives in the congress, who alone car
supply remedy. And yet the situation
still continues, with aggravated incidents
more than ever presaging financial con
vusion an | widespread disaster. 1t vii
not do to neglect this situation because
it's dangers are not now palpaby immi
nent ana apparent. They exist none til,
less certainly and on an unforeseen ant
unexpected occasion they will be precip
itated upon us.
THE SURPLUS.
On the 30th day of June, 1885, the ex
cess OF revenues over public expendi
lures, after complying with the annua
requirement OF the sinking fund act, wa
$l7,s59, 73N,si; during the year ende,
June 30, 1886, such excess amounted t
$40 ,405 SO 20, and during the yea
ended June 30, 1887, it reached the sun
OF s55, 5G7 ,Sl9.5I; the annual contribu
tons to the sinking fund during the thre
years above specified, amounting in tn
aggregate to Sl3S, SIS, 5000, and deduc
tons from the surplus as stated wer
made by calling in for that purpose out
standing s per cent. bonds of the gov
erument During the six months prio
to June 30, 1887, the surplus revenue ha
grown SO large by repeated aecumula
tons, and ii was feared the withdrawa
OF this great sum OF money needed b
the people would so affect the husines
OF the country that the sum of $40 SGT
100 OF such surplus was applied to III
payment o! the principal and interest {
the per cent. bonds still outstanding
and which were then payable at the OF
ton OF the government. The precariou
condition OF the financial affairs anon
the people still needing relief immec
lately, after the 3lth day OF June, 1885,
the remainder OF the per cent. bond
then outstanding, amounting with prir
cipal and interest to the sum OF SlS,SG7
500, were called in and applied to tn
sinking fund contribution Tor the currer
fiscal year
Notwithstanding these operations
the treasury department. representation
OF distress in business circles not onl
continued but increased, and absolut
peril seemed at hand, In these circun
stances the contribution to the sinkin
fund for the current fiscal year was ,
once completed by the expenditure
So ,6Sl $500 in the purchase OF govern
ment bombs not vet due, bearing 4 an
Az per cent, interest, the premium pal
thereon averaging about u per cent. t,
the former, and per cent. for the latte
IN addition to this the interest aceoul
accruin. during the current year upo
tho outstanding bonded indebtedness
the government was to an extent antic